He was speaking after analysts at the Commonwealth Bank cut their rating on BHP and Fortescue Metal shares, citing the tumbling price of iron ore…

.. Mr Kloppers was talking after returning from the world tour that followed the release last month of BHP’s annual results. He said BHP remained hopeful that by going back to the drawing board it would find a viable option to extend the Olympic Dam project, in central South Australia. These included extracting minerals by leaching – a process used at BHP Billiton mines in Chile.

Mr Kloppers said while he could not guarantee the mine expansion would proceed, the company would work “unbelievably hard” to develop a viable extension plan. “One of the things that has been difficult, is that people take everything we work on as being approved,” he said. Then when we are unable to make it work they feel we’ve unapproved it. That’s the world we live in.”Mining companies had to constantly reassess their options as circumstances changed, he said….. http://www.news.com.au/business/companies/bhps-kloppers-defends-dam/story-fnda1bsz-1226464273598#ixzz25XtdDBAs